Discipline is the most basic thing

Forex trading demands a certain level of discipline. To develop discipline:
1 Set a clear-cut goal.
2 Direct your attention to what needs to be done.
3 After that, start monitoring your progress.

Discipline is a must for a trader who wants to be successful on the market. If emotions overtake common sense, you'll definetely lose even if you are very knowledgable and skillful.

Keuschur posted:
Discipline is a must for a trader who wants to be successful on the market. If emotions overtake common sense, you'll definetely lose even if you are very knowledgable and skillful.

I do think the same, discipline is the foremost and most important step to make your trading successful, without it no trader can get the desired results.

skihav posted:
I realized this the most when I started working with the demo account of the broker. I really appreciated all the advantages of the case when a trader pays attention to discipline.

A lot of coordination is needed. I have to be smart to do trading discipline and plan.

While trading forex, you will win some trades and you will lose on some trades but as long as you are disciplined enough to stick to your trading strategy and are not attached emotionally to your losses, you will tend to make more winning trades than losing trades.

A quote by a prominant Betfair trader called Peter Webb, which likely applies to all types of trading is - 'If you trade with a random approach then you should expect random results'. A structured and disciplined approach is the only way to make any headway in the markets.

TroyTheTrader posted:
While trading forex, you will win some trades and you will lose on some trades but as long as you are disciplined enough to stick to your trading strategy and are not attached emotionally to your losses, you will tend to make more winning trades than losing trades.

Of course, every trader needs to maintain discipline. Trading cannot be done without discipline and plan.

AliaDare posted:

TroyTheTrader posted:
While trading forex, you will win some trades and you will lose on some trades but as long as you are disciplined enough to stick to your trading strategy and are not attached emotionally to your losses, you will tend to make more winning trades than losing trades.

Of course, every trader needs to maintain discipline. Trading cannot be done without discipline and plan.

Without discipline, no trader can survive in this risky market.

It is much easier for a disciplined trader to control the situation and understand where there may be some mistake.